Today at @token2049 I sat down with @HenriArslanian to discuss the work our team has done in the past two weeks to develop and execute concrete solutions that will rebuild trust within the MANTRA community. Thanks to all who were there and came to listen. For those who werenât able to attend, here is a brief summary:
- Significant governance improvements. Weâre accelerating our validator diversification efforts by winding down internal validators and adding more validator partners.Â
- Real time tokenomics. Weâll continue working on iterations of our real-time dashboard to make information available publicly, anywhere, anytime.Â
- 150 million burn of my staked OM tokens = complete. Theyâre gone from total supply.Â
- Our tech is resilient. MANTRA Chain kept operating in a volatile moment. With continued focus on resilience and risk-mitigation, we launched OMSTEAD - our EVM testnet currently in Alpha.Â
- Cooperating with major exchanges to improve market stability, and calling on the rest of our industry to provide input on how exchange policies can minimize (or continue to permit) policies that create risk to investors.Â
The path ahead requires methodical, transparent rebuilding. We're designing systems that both significantly reduce the risk of similar incidents and also create a fundamentally more decentralized protocol and token.
I want to thank our community members who have provided valuable feedback during this challenging period. Your insights have helped guide our recovery strategy.
We have a long road ahead to rebuild from an incident that hurt us and hurt our project. With these concrete actions and continued transparency, I remain confident weâll come out stronger.
JPM
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